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Note 5 - Financial Instruments
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Financial Instruments Disclosure [Text Block]

Note 5 – Financial Instruments

 

Financial instruments as of the dates indicated were as follows: 

 

          

Quoted Prices

         
          

In Active

  

Significant

     
          

Markets for

  

Other

  

Significant

 
          

Identical

  

Observable

  

Unobservable

 

(Dollars in thousands)

 

Carrying

  

Estimated

  

Assets

  

Inputs

  

Inputs

 
  

Amount

  

Fair Value

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

September 30, 2022

                    

Assets

                    

Cash and cash equivalents

 $51,494  $51,494  $51,494  $-  $- 

Equity securities at fair value

  7,977   7,977   6,116   -   1,861 

Securities available for sale

  530,093   530,093   -   530,093   - 

Securities held to maturity

  428,205   351,858   -   336,795   15,063 

Federal Home Loan Bank and Federal

                    

Reserve Bank stock

  8,557   8,557   -   8,557   - 

Loans held for sale

  8,848   9,113   -   9,113   - 

Loans to other financial institutions

  70   70   -   70   - 

Loans, net

  1,124,944   1,063,833   -   -   1,063,833 

Accrued interest receivable

  9,273   9,273   -   9,273   - 

Interest rate lock commitments

  51   51   -   51   - 

Mortgage loan servicing rights

  4,537   5,853   -   5,853   - 

Interest rate derivative contracts

  28,185   28,185   -   28,185   - 
                     

Liabilities

                    

Noninterest-bearing deposits

  599,360   599,360   -   599,360   - 

Interest-bearing deposits

  1,557,294   1,553,133   -   1,553,133   - 

Borrowings

  -   -   -   -   - 

Subordinated debentures

  35,201   29,836   -   29,836   - 

Accrued interest payable

  180   180   -   180   - 

Interest rate derivative contracts

  5,524   5,524   -   5,524   - 
                     

December 31, 2021

                    

Assets

                    

Cash and cash equivalents

 $31,887  $31,887  $31,887  $-  $- 

Equity securities at fair value

  8,492   8,492   6,724   -   1,768 

Securities available for sale

  1,098,885   1,098,885   -   1,077,835   21,050 

Federal Home Loan Bank and Federal

                    

Reserve Bank stock

  8,888   8,888   -   8,888   - 

Loans held for sale

  9,351   9,632   -   9,632   - 

Loans to other financial institutions

  42,632   42,632   -   42,632   - 

Loans, net

  1,009,160   999,393   -   -   999,393 

Accrued interest receivable

  8,211   8,211   -   8,211   - 

Interest rate lock commitments

  172   172   -   172   - 

Mortgage loan servicing rights

  4,666   5,522   -   5,522   - 
                     

Liabilities

                    

Noninterest-bearing deposits

  560,931   560,931   -   560,931   - 

Interest-bearing deposits

  1,491,363   1,491,135   -   1,491,135   - 

Borrowings

  50,000   50,000   -   50,000   - 

Subordinated debentures

  35,017   33,414   -   33,414   - 

Accrued interest payable

  441   441   -   441   -